The Stephens County School System gets good news on its Fiscal Year 2012 audit.
Stephens County School Superintendent Sherrie Whiten told the Board of Education Tuesday that the school system received a clean audit report with no findings for last fiscal year.
Whiten said she is always pleased to receive a clean audit for the school system.
“What that says for us is what we are doing is right and that as far as our financial situation, we are in good standing and our processes and procedures are right on target,” said Whiten.
In another financial note from Tuesday’s meeting, the Stephens County Board of Education unanimously approved the establishment of a line of credit from Northeast Georgia Bank in the amount of $3 million.
Whiten said that this is a precautionary measure that the school system has taken for several years.
“Our state money comes in on the last day of the month and we get paid on the last working day of the month and sometimes there is a gap between when we get our state money and when we have to do electronic deposits for payroll, so it is just a protection to make sure that the money is always there,” said Whiten.
Whiten also reported to the Board of Education on Tuesday that the school system has received its first monthly collection from the new E-SPLOST. Voters approved a continuation of E-SPLOST for another five years back in 2011 and the new E-SPLOST took effect on January 1.